Jumbo mortgage loans are typically for Customers Bank borrowers who enjoy larger incomes, higher credit scores and greater financial reserves. This type of loan exceeds the loan-servicing limits set by government-sponsored enterprises, Freddie Mac and Fannie Mae, making them non-conforming loans. Ideal for primary homes, investment properties and vacation homes, our Jumbo Mortgages feature 30-year terms, adjustable interest rates and require no personal mortgage insurance.
Features and Benefits
- Minimum credit scores: 720 Purchase & Refinance: Primary and Second Home; 740 Cash Out Refinance: Primary and Second Home
- Minimum down payment of 20-30% based on loan purpose
- Maximum borrowing limit is $1,500,000
- Term of loan: 30-year adjustable
- Loan-to-Value maximum: 80% Purchase & Refinance: Primary and Second Home; 75% Cash Out Refinance and Primary; 70% Cash Out Second Home
- No private mortgage insurance (PMI) required
- Competitive rates
- Free qualification
- Local decision making with fast approvals
- Friendly, federally licensed mortgage consultants
- Personalized service
- Available in: PA, NY, NJ, CT, DC, DE, MA, RI and VA
Ready to get started? Contact one of our mortgage professionals who will help find the right loan for you.